Real Estate Installment Contract Template for United Arab Emirates

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Key Requirements PROMPT example:

Real Estate Installment Contract

"I need a Real Estate Installment Contract for a luxury apartment in Dubai Marina, with 20% down payment and quarterly installments over 3 years starting March 2025, including provisions for early payment options and property management fees."

Document background

The Real Estate Installment Contract is a crucial document in UAE property transactions, widely used in both residential and commercial property purchases where buyers prefer or require structured payment plans. This contract type is particularly relevant in the UAE's dynamic real estate market, where property developers and sellers frequently offer installment payment options to attract buyers. The document must comply with federal laws such as the UAE Civil Code and specific emirate-level regulations, particularly in Dubai and Abu Dhabi. It typically includes comprehensive details about the property, payment schedule, transfer conditions, and obligations of all parties. The contract becomes especially important in off-plan property purchases and requires registration with relevant authorities to ensure legal protection for all parties involved.

Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, addresses, and relevant identification numbers

2. Background: Context of the sale, brief description of the property, and intention to enter into an installment arrangement

3. Definitions: Definitions of key terms used throughout the agreement including Property, Completion Date, Installment Payment, etc.

4. Property Details: Detailed description of the property including location, size, boundaries, and registration details

5. Purchase Price: Total purchase price, deposit amount, and breakdown of installment payments

6. Payment Terms: Detailed payment schedule, installment amounts, due dates, and payment methods

7. Transfer of Ownership: Conditions and process for transferring property ownership upon completion of payments

8. Seller's Obligations: Responsibilities of the seller including maintaining clear title and facilitating registration

9. Purchaser's Obligations: Responsibilities of the purchaser including timely payments and property maintenance

10. Default and Remedies: Consequences of default by either party and available remedies

11. Registration: Requirements and process for registering the contract with relevant authorities

12. Representations and Warranties: Statements of fact and guarantees by both parties

13. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts' jurisdiction

14. Notices: Process and requirements for formal communications between parties

15. Execution: Signature blocks and execution requirements

Optional Sections

1. Condition of Property: Detailed description of property condition, used when selling existing property rather than off-plan

2. Construction Completion: Timeline and specifications for completion, included for off-plan properties

3. Maintenance Charges: Details of service charges and maintenance fees, included for apartments or managed communities

4. Insurance Requirements: Insurance obligations of parties during the installment period, recommended for high-value properties

5. Early Payment Provisions: Terms for early payment of installments, optional but recommended

6. Property Inspection: Rights and process for property inspection, relevant for existing properties

7. Escrow Arrangements: Details of escrow account arrangements, mandatory for off-plan properties in some emirates

8. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

9. Assignment Rights: Rights to assign the contract to third parties, if permitted

Suggested Schedules

1. Schedule 1 - Property Details: Detailed technical description of property including plot number, municipality details, and exact measurements

2. Schedule 2 - Payment Schedule: Detailed breakdown of all installment payments with exact dates and amounts

3. Schedule 3 - Property Plans: Floor plans, location maps, and other relevant property drawings

4. Schedule 4 - Specifications: Detailed specifications of finishes, fixtures, and fittings (particularly for off-plan properties)

5. Schedule 5 - Title Documents: Copies of relevant title documents and certificates

6. Schedule 6 - Handover Protocol: Process and checklist for property handover

7. Appendix A - Required Documents: List of documents required from both parties for contract completion and registration

8. Appendix B - Payment Receipts: Template for payment receipts and tracking

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Property Management

Real Estate Investment

Facilities Management

Property Technology

Insurance

Relevant Teams

Legal

Real Estate

Sales

Compliance

Finance

Risk Management

Property Management

Business Development

Operations

Document Control

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Contract Manager

Real Estate Agent

Property Sales Manager

Compliance Officer

Finance Manager

Real Estate Investment Manager

Property Portfolio Manager

Risk Manager

Real Estate Director

Sales Director

Chief Legal Officer

Chief Financial Officer

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Authors

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